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April 12, 2024

High-yield savings: Salmon Introduces 8.88% interest rate for Filipinos

Financial services company Salmon, which owns a controlling stake in Rural Bank of Sta. Rosa (Laguna), has unveiled its “early bird” savings scheme, offering Filipino consumers an 8.88% interest rate on 12-month time deposits exceeding P500,000.

This initiative underscores Salmon’s commitment to financial inclusion by providing a competitive interest rate.

The offer is currently available only at Rural Bank of Sta. Rosa (Laguna) branches, with plans to expand to other locations upon receiving regulatory approval.

Raffy Montemayor, Salmon co-founder, highlighted the “luckiest deal in the Philippines” tagline, emphasizing the potential benefit for customers in managing their finances and improving their quality of life.

Salmon’s acquisition of Rural Bank of Sta. Rosa, will help the consumer credit fintech to reach underserved communities in the Philippines.